IGB Automotive

Lear Corporation has entered into a definitive agreement to acquire I.G. Bauerhin (IGB), a supplier of automotive seat climate control systems, for €140 million on a cash- and debt-free basis. The transaction is expected to close in six to nine months.

German automotive components supplier IGB Automotive announced a new factory in Lazarevac, Serbia, with an investment of at least EUR 2 million. The plant will initially employ 150 workers, with potential to reach 500.

IGB Automotive is investing €2 million in new equipment at its facility in Indjija, Serbia, to expand production of fan motors, with capacity of one million units per year and production starting in mid-2018.

IGB Automotive will invest EUR 2 million in new equipment for a production line of fan motors at its facility in Indjija, Serbia. The line is expected to start production in mid-2018 with a capacity of one million fan motors per year.

IGB Automotive, a subsidiary of German I.G. Bauerhin GmbH, opened a new 7,800 sqm facility in Indjija, Serbia, on January 24, 2017. The EUR 4.5 million investment created over 600 new jobs. The company also announced plans for new facilities in China and Mexico.